South Asian free trade agreement: prospects of shallow regional integration
Das, Dilip K., 1941- (2007) South Asian free trade agreement: prospects of shallow regional integration. Working Paper. University of Warwick. Centre for the Study of Globalisation and Regionalisation, Coventry.
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This paper essentially focuses on the belated regionalization attempts of the South Asian economies and myriad of problems that are coming in their way to forming a smoothly functioning free trade area and regional integration agreement. Notwithstanding their efforts, progress so far has been tardy. Although South Asian economies took several liberalization measures during the 1990-2005 period, this group of economies was the most highly protected group in the global economy in 2005. It lagged behind in opening its domestic economy to global competition as well as in attracting FDI. Furthermore, evidence of trade complementarity in South Asian economies is mixed so far, which made creation of an FTA a weak proposition. However, this paper recommends that despite lack of success, South Asian economies should continue their endeavors to regionalize. At present, these economies are at a low level of per capita income and economic development. As they move up their respective growth trajectories, they are likely to develop complementaries. If these economies continue to grapple with their current hurdles to regionalization, in the medium-term South Asian economies stand to gain in welfare terms even if they succeed in shallow regional integration.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HF Commerce|
|Divisions:||Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation|
|Library of Congress Subject Headings (LCSH):||Free trade -- South Asia, Globalization -- Economic aspects, Regionalism -- South Asia, South Asia -- Economic integration, South Asia -- Economic conditions|
|Series Name:||Working papers (University of Warwick. Centre for the Study of Globalisation and Regionalisation)|
|Publisher:||University of Warwick. Centre for the Study of Globalisation and Regionalisation|
|Place of Publication:||Coventry|
|Number of Pages:||36|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
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